Manka Bros. Will Not Bid On MGM
Good afternoon. Last night, I called MGM CEO Mary Parent to inform her that Manka Bros. would not be bidding on MGM. Many have speculated that Manka Bros. would be the most likely suitor of MGM (which includes the 4,000 film library) but I have decided that it would no longer be a strategic fit for our company (though if the bidding falls below $1 billion, I may have to rethink things).
Manka Bros. is the world's largest media company with the world's largest film library and we simply don't need to add 4,000 more titles to it. Manka Classic Movies, as it is, can only show about 3,500 movies a year (24x7 without commercials). At that rate, it would take us at least four years to show every film in our library (and we don't want to show every film in our library as most of them are total crap).
There was a time when I wanted to own all the copyrights of the world. I think I may be changing my mind now that DVD is dead and pirates are stealing everything we produce.
So, sorry MGM, hopefully Time Warner or Fox will bail your asses out.
Khan Manka, Jr. - Chairman & CEO - Manka Bros. Studios - The World's Largest Media CompanyP.S. - I would like to offer Mary Parent a job if the new owners foolishly don't keep her. She seems really on top of things.
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4 Comments
About Khan Manka, Jr.
Khan Manka, Jr. assumed the title of Chairman of the Board of Manka Bros. Studios - The World's Largest Media Company - following his father Harry Manka's death in 1976. Before that he was the member of several Southern California rock bands.
too bad, Khan. Your uncle Khan and Louis B. Mayer got into so many scuffles in the old days, it would have been sweet if you would have gotten a hold of Louis B.'s old company.
I don't think any studio will get it. I think it's going to private equity or Reliance in India.
I think the bidding will end up at about $1.9 billion with Fox winning it. They seem to have a strategy to continue to invest in old media assets. So I think they'll have the most passion for the library at this moment.
wow. I missed that. Fox dropped out today. And it won't even come close to being a $1.9 billion bid. I have no clue what will happen now. So much for my being an expert at these things.